Property Ownership
A cooperative (co-op) housing arrangement in South Dakota differs from a condominium because:
ACo-op owners receive a deed to their unit; condo owners do not
BCo-op owners own shares in a corporation that owns the building; condo owners have a deed to their unit✓ Correct
CCondominiums allow pets; co-ops prohibit them
DCo-ops are only allowed in rural South Dakota areas
Explanation
In a co-op, residents own shares in the corporation that owns the building and receive a proprietary lease. In a condominium, owners hold fee simple title to their individual units.
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